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Capital Intelligence Registers as a Credit Rating Agency in the EU


Capital Intelligence (Cyprus) Ltd today announced that it has registered as a credit rating agency in the European Union (EU) in accordance with the EU Regulation on Credit Rating Agencies*.



The decision to register Capital Intelligence was taken by regulators following a careful examination of the Company's compliance with the requirements of the Regulation, and focused on issues such as the Company's governance and the transparency and independence of its credit rating activities.

Capital Intelligence's successful registration follows important adjustments to its internal organisation, policies and procedures which were undertaken to meet regulatory standards and to increase market confidence in the credit ratings it issues.

As a registered credit rating agency, Capital Intelligence is now subject to ongoing supervision by the European Securities and Markets Authority (ESMA), the Paris-based EU body established at the start of 2011 and responsible for monitoring compliance with the Regulation, among other tasks.

The EU's regulatory regime for credit rating agencies is among the strictest in the world. The aim is to enhance the integrity, transparency, responsibility, good governance and reliability of the activities of credit rating agencies operating in the EU and to ensure that the resulting credit ratings are independent, objective and of adequate quality.

Registration is mandatory for credit rating agencies operating within the EU and is the principal prerequisite for agencies to issue credit ratings intended to be used for regulatory purposes. The requirements for registration are stringent and far-reaching, and include organisational requirements, operational requirements, rules on rating analysts, rules on the presentation of credit ratings, and various disclosure requirements.

Capital Intelligence's successful registration demonstrates the Company's commitment to high standards in terms of the rating process and corporate governance. Capital Intelligence will continue to build on the progress made in recent years to further improve the transparency and reliability of its credit rating activities and to provide investors, counterparties and other users of CI's ratings service with insightful, independent and timely credit rating opinions and related research.

* (EC) No 1060/2009 of the European Parliament and Council of the EU, amended by Regulation (EU) No 513/2011.

Capital Intelligence (Cyprus) Ltd
www.ciratings.com

Mercredi 16 Mai 2012
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